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TCS Announces Quarterly Results (1QFY20); Net Profit Up 10.7%

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TCS Announces Quarterly Results (1QFY20); Net Profit Up 10.7%
Wed, 10 Jul

TCS has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

TCS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m342,610380,100381,7200.4%11.4%
Other incomeRs m12,25011,93016,75040.4%36.7%
TurnoverRs m354,860392,030398,4701.6%12.3%
ExpensesRs m251,900279,360281,3500.7%11.7%
Gross profitRs m90,710100,740100,370-0.4%10.6%
DepreciationRs m4,9305,3708,17052.1%65.7%
InterestRs m1702802,570817.9%1411.8%
Profit before taxRs m97,860107,020106,380-0.6%8.7%
TaxRs m24,24025,50024,850-2.5%2.5%
Profit after taxRs m73,62081,52081,5300.0%10.7%
Gross profit margin%26.526.526.3
Effective tax rate%24.823.823.4
Net profit margin%20.720.820.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 11.4% on a year-on-year (YoY) basis. The expenses were up by 11.7% YoY during the same period.
  • The company's operating profit increased by 10.6% YoY during the quarter. Consequently, operating profit margins remained same and stood at 26.3% in 1QFY20.
  • Depreciation charges increased by 65.7% and finance costs increased by 1411.8% YoY, respectively.
  • Other income increased by 36.7% YoY during the quarter.
  • Net profit for the quarter increased by 10.7% YoY. Net profit margins during the quarter declined from 20.7% in 1QFY19 to 20.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.7% QoQ during the same period.
  • The company's operating profit declined by 0.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.3% in 1QFY20 as against 26.5% in 4QFY19.
  • Net profit for the quarter increased by 0.0% QoQ, while net profit margins declined from 20.8% in 4QFY19 to 20.5% in 1QFY20.

To see how TCS has performed over the last eight quarters,please visit here.

TCS Share Price Performance

Over the last one year,TCS share price has moved up from Rs 1,877.0 to Rs 2,097.0, registering a Gain of Rs 220.0 or around 11.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,036.1 (down 0.3%). Over the last one year it has moved up from 14,084.9 to 15,036.1, a gain of 951 points (up 6.8%).

Overall, the S&P BSE SENSEX is up 7.9% over the year.

Current Valuations

At the current price of Rs 2,097.0, the price to earnings (P/E) ratio of TCS stands at 24.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.0 times.

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